CORRECTIONS OFFICER RETIREMENT SYSTEM
Contribution rates and benefits upon hiring for Tier 1 and Tier 2 members.
| Tier 1 Members | Tier 2 Members |
Membership date | Before January 1, 2012 | On or after January 1, 2012 |
Plan Type | Defined benefit (DB) Plan | |
Employee Contribution Rate | Members: 7.65% – 8.41%* Dispatchers: 7.96% | Members: 7.65% – 8.41%* |
*Dependent on employer funding level per A.R.S. 38-891 | ||
Wage Index | As set by the Internal Revenue Service | |
Average Monthly Salary Determined by | Highest 3 consecutive years in past 10 years credited service** | Highest 5 consecutive years in past 10 years credited service** |
Disability Benefits | Three types of disability (Accidental, Ordinary and Total & Permanent) | |
Cancer Insurance Program | The PSPRS Cancer Insurance Program provides active and eligible retired corrections officers with payments for cancer diagnoses and reimbursements for treatment-related expenses | |
Line of duty death | Survivor benefits paid to eligible spouses or eligible children in the event of member death. Contribution balances paid to beneficiaries on file if members do not have eligible spouse or children. |
**Credited service includes employment periods in which the member and employer are contributing to the plan, and any transferred or purchased credited service from other retirement plans. Periods of unpaid leave are not considered credited service and are not counted towards normal retirement benefits.
Tier 1 and 2 members can check their pension contribution balances at any time during their careers by accessing their Members Only account or by calling (602) 255-5575 or emailing [email protected].
Please note that all CORP members and retirees can use defined contribution plans available under state law and through Nationwide Retirement Services. These accounts include a 401(a) supplemental plan and a 457 plan. Members can contact their employers for assistance.